Alger Smallcap Correlations

Mutual Funds . USA . 
Fund . Alger Smallcap Growth
ALSRX Fund  USD 16.30  0.02  0.12%   
The current 90-days correlation between Alger Smallcap Growth and Siit Emerging Markets is 0.07 (i.e., Significant diversification). The correlation of Alger Smallcap is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Alger Smallcap Correlation With Market

Very weak diversification

The correlation between Alger Smallcap Growth and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Smallcap Growth and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Alger Smallcap Growth. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Alger Mutual Fund

  0.66AMGAX Alger Midcap GrowthPairCorr
  0.66AMGCX Alger Midcap GrowthPairCorr
  0.61AMGOX Alger Mid CapPairCorr
  0.93AOFIX Alger Small CapPairCorr
  0.67AOFAX Alger Small CapPairCorr
  0.93AOFCX Alger Small CapPairCorr
  0.91CHUSX Alger Global GrowthPairCorr
  0.65AAEMX Alger Emerging MarketsPairCorr
  0.98AAGOX Alger Large CapPairCorr
  0.99AAIYX Alger Mid CapPairCorr
  0.92ASMZX Alger Smidcap FocusPairCorr
  0.98ASPCX Alger SpectraPairCorr
  0.99ASPZX Alger SpectraPairCorr
  0.99ASPYX Alger SpectraPairCorr
  0.64ASPIX Alger SpectraPairCorr
  0.99ABLOX Alger Balanced PortfolioPairCorr
  0.99ACAYX Alger Capital ApprecPairCorr
  0.99ACAZX Alger Capital ApprecPairCorr
  0.99ACARX Alger Capital ApprecPairCorr
  0.68ATVPX Alger 35 FundPairCorr
  0.68ACIZX Alger Capital ApprecPairCorr
  0.65ADOCX Alger Dynamic Opport Potential GrowthPairCorr
  0.65ADOZX Alger Dynamic Opport Potential GrowthPairCorr
  0.68CNEIX Alger Concentrated EquityPairCorr
  0.68CNEYX Alger Concentrated EquityPairCorr
  0.68CNEZX Alger Concentrated EquityPairCorr
  0.93AFGZX Alger Global GrowthPairCorr
  0.95AFGPX Alger InternationalPairCorr
  0.65AFOIX Alger Mid CapPairCorr
  0.65AFOZX Alger Funds MidPairCorr
  0.99AGIZX Alger Growth IncomePairCorr
  0.99AGOZX Alger Small CapPairCorr
  0.7AGSCX Alger Smallcap GrowthPairCorr
  0.96AIEMX Alger Emerging MarketsPairCorr
  0.92AIFIX Salient Investment GradePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Alger Mutual Fund performing well and Alger Smallcap Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Alger Smallcap's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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